FTX estate moves $17M in Solana while network staking activity remains strong

The FTX bankruptcy estate has moved another batch of Solana tokens as part of its ongoing creditor repayment process, even as network staking activity remains resilient.

Arkham data shows that Alameda Research — the trading firm linked to the collapsed crypto exchange FTX — recently unstaked approximately $17 million in Solana [SOL]. 

The funds were subsequently transferred to the estate’s bankruptcy distribution wallet, which manages repayments to creditors.

The movement forms part of a broader pattern of periodic token distributions tied to the FTX restructuring process.

Despite the latest transfer, Arkham data shows that Alameda-linked wallets still hold about $321 million worth of SOL across on-chain accounts.

Alameda’s SOL holdings remain under scrutiny

Since the collapse of FTX in 2022, the estate has been gradually unlocking and redistributing digital assets as it works to repay creditors.

Solana has been among the most closely watched assets in the estate’s holdings. Large token movements tied to the bankruptcy process have historically drawn attention from traders due to the potential for additional supply entering the market.

The latest $17 million unstaking event is relatively small compared with the remaining holdings. Still, it highlights the continued pace of distributions.

With more than $300 million in SOL still held, further periodic transfers are expected as the bankruptcy proceedings progress.

Solana staking activity remains positive

While large holders continue to move tokens, broader staking activity on the Solana network remains healthy.

Data on stake activation and deactivation across the network shows that staking inflows recently outpaced withdrawals.

On 11 March, approximately:

• $246 million worth of SOL was activated [staked]

• $170 million was deactivated [unstaked]

This resulted in a net positive staking change of about $75 million for the day.

The figures suggest that even as some participants unstake tokens, new capital continues to flow into Solana’s validator ecosystem.

Large spikes in staking activity were also visible earlier in March, indicating significant stake rotations across the network.

SOL price stabilizes after February decline

Market activity in Solana has also been relatively stable following a sharp correction earlier in the year.

SOL experienced a notable decline in February, falling from above $120 to levels near $80. Since then, the asset has entered a period of consolidation.

At the time of writing, SOL was trading around $86, with price action largely moving within a $80–$90 range.

Technical levels on the chart suggest that $95–$100 could act as a near-term resistance zone. At the same time, the $80 region remains an important support area.

For traders, movements tied to the FTX estate remain an important variable to watch. 

Continued creditor distributions could gradually introduce additional supply into the market, though broader network participation — reflected in steady staking flows — may help offset some of that pressure.

Final Summary

• Alameda’s latest $17 million SOL unstaking highlights the continued pace of FTX creditor distributions, with $321 million still held on-chain.
• Despite these movements, Solana’s staking activity remains net positive, suggesting ongoing participation from network validators and investors.